Hyflux announces possible injection of S$400 million from Utico

Chicago, May 3 – Hyflux Ltd. received a non-binding letter of intent from Utico FZC for a possible injection of S$400 million to be used for equity and working capital purposes and possible urgent interim funding, according to a news release.

Utico has informed the company that it is aware of the urgency of the restructuring.

The investment would preserve the group’s key entities so that the entities, including the company, remain intact and operational.

Additionally, the group’s current management would be retained.

And, a binding term sheet for execution would include the term that an amicable deal is reached with the group’s creditors and investors.

Hyflux is a Singapore-based water treatment firm.

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